Pay To bid Auction System

Abstract

Methods and systems for conducting electronic auctions. Bidders purchase the chance to bid, the number of times bidding are used as a winning factor. Bidder who has the highest Personal Bid and earliest bid time is selected as winner. Alternatively, Bidder who spend Highest Credit Bid and earliest bid time is selected as winner.

1 . An electronic auction system, comprising:
 an electronic server that runs an auction software and conducts auction process electronically wherein a chance-to-bid (Bid) in an auction is valued and placed for purchase, and an auction participant needs to purchase said Bid to place a bid in said auction, and winning of said auction is determined by an auction rule;   an electronic device electronically connected with said server, and installed with a database which keeps track of said participant's bidding history in an account of said participant; and   a display device electronically connected with said server, displaying information from said participant's account and said auction.   
     
     
         2 . The electronic auction system of  claim 1 , wherein said chance-to-bid is valued differently at different stage of said auction. 
     
     
         3 . The electronic auction system of  claim 1 , wherein said chance-to-bid is purchased in bulk at a discount. 
     
     
         4 . The electronic auction system of  claim 1 , wherein the participant is provided free credits by the auction system 
     
     
         5 . The electronic auction system of  claim 1 , wherein the participant's bidding history includes Personal Bid and Credit Bid, wherein Personal Bid is the total money cost in said auction for purchasing Bid in each round of bidding and Credit Bid is the total credits spent in said auction for purchasing Bid in each round of bidding. 
     
     
         6 . The electronic auction system of  claim 5 , wherein said winning rule includes selecting a participant having highest Personal Bid and earliest bid time. 
     
     
         7 . The electronic auction system of  claim 5 , wherein said winning rule includes selecting a participant having highest Credit Bid and earliest bid time. 
     
     
         8 . The electronic auction system of  claim 5 , wherein said Personal Bid is reusable if the participant is not a winner. 
     
     
         9 . The electronic auction system of  claim 5 , wherein said auction includes multiple items, and multiple auction rules are used for determination of winners for the items. 
     
     
         10 . An electronic Pay-to-Bid auction system, comprising:
 plurality of electronic server, each of said servers running a different version of an auction software and conducting a part of an auction process electronically wherein plurality of chance-to-bids (Bids) in an auction are valued and placed for purchase, and an auction participant needs to purchase one or more of said Bids to place a bid in said auction, and winning of said auction is determined by an auction rule;   an electronic device electronically connected with said servers, and installed with a database which keeps track of said participant's bidding history in an account of said participant; and   a display device electronically connected with said plurality of servers, displaying information from said participant's account and said auction.   
     
     
         11 . The electronic Pay-to-Bid auction system of  claim 10 , wherein a participant who has placed a bid becomes a bidder, and High Bid List is built by only selecting the earliest bidder among bidders who have purchased similar number of bids. 
     
     
         12 . The electronic Pay-to-Bid auction system of  claim 10 , wherein plurality of participants cooperate to bid on behalf of a single entity in one auction. 
     
     
         13 . The electronic Pay-to-Bid auction system of  claim 10 , wherein plurality of related auctions, including first auction and other auctions, are conducted simultaneously, and a bid placed in first auction is automatically placed for other auctions. 
     
     
         14 . The electronic Pay-to-Bid auction system of  claim 13 , wherein each of the plurality auctions has its own winning rule. 
     
     
         15 . The electronic Pay-to-Bid auction system of  claim 13 , wherein plurality of items are auctioned in each individual auction, the auction rule allows one bidder to win more than one auctions.